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WELCOME TO HOW I Spend My Money, a series on The Journal that looks at how people in Ireland really handle their finances.
We’re asking readers to keep a record of how much they earn, what they save if anything, and what they’re spending their money on over the course of one week.
Are you a spender, a saver or a splurger? We’re looking for readers who will keep a money diary for a week. If you’re interested send a mail to money@thejournal.ie. We would love to hear from you.
Each money diary is submitted by readers just like you. When reading and commenting, bear in mind that their situation will not be relatable for everyone, it is simply an account of a week in their shoes, so let’s be kind.
Last time around, we heard from an early childhood educator on €35K living in Leinster. This week, an IT associate on €47K living in Dublin.
I’m a 26-year-old IT associate living in North Dublin. I came to Ireland from India in early 2019. I am the only child and have been the sole earner in my family for the past three to four years. I am glad I found this section of The Journal as I think this will be a great way for me to look back and reflect on my journey so far.
As with many international students, I too had always dreamed of moving to a different country and building a life from scratch and so I did. Starting with a €24,000 student loan (including interest) and a few miscellaneous loans for the family from back in the days of financial instability (€8,000), I moved to Dublin to do my post-grad while picking up part-time shifts for about eight months.
Soon, I got an internship while doing my thesis and then a full-time job in IT just in time for my graduation (and the start of the Covid pandemic). The journey so far has been very humbling and I am grateful for all the great experiences and good people I met along the way and most importantly, that things worked out just about right.
I started my professional career in Dublin with a €16,000 per year – three-month internship, converted to a temp €20,000 per year part-time, then to a €37,000 per year full-time job. Since then, I have been promoted and I’m earning €47,000 per year (gross).
I am trying to keep my expenses low, clear off debts as much as I can and build a financial safety net ASAP. That said, I do sometimes splurge like there’s no tomorrow but it’s still within the limits of how much I can handle financially – such as the occasional dinners, movies with friends or a date (it’s not that often though as I don’t go out much and don’t like online dating).
So far, I have been able to clear off my entire student loan (€24,000) and get a mortgage to buy a house for my parents in India costing €74,600 (when converted to Euro). I am now working on building that safety net and clearing off the miscellaneous loans, but honestly, it has been quite a task so far.
Occupation: IT associate
Age: 26
Location: Dublin
Salary: €47,000
Monthly pay (net): €2,899
Transport: €40 – €65 depending on the number of trips
Rent: €750 for a single ensuite room (probably the only lavish expense I have, considering I started in a triple
sharing room and then a twin sharing for a long time, good times though)
Household bills: €60 for electricity, €15 for my share of the WiFi
Phone bill: €8 – 48.ie to the rescue
Health insurance: Covered by work
Groceries: Around €120 (I cook all the time or eat frozen food if exhausted)
Subscriptions: €5 – Netflix, Youtube Premium, Amazon Prime (It’s a bit complicated to explain. I chip in on the multi- screen/device accounts that my friends purchase back in India)
Savings: Sure, I’d like to have some! Starting last month, I’m saving €520 to be later used to pay off all the misc loans in parts, amongst other things. I am also putting aside €150 as an emergency fund starting last month. I’d soon like to start investing also.
To look after my parents: €500 – this is about enough for the local expenses but my parents still try to keep their expenses at a minimum, which to be honest I don’t want them to worry about much
Loans: €700 (mortgage, misc loans)
Credit card: I use this as an instrument to juggle expenses at times but I have always paid the dues within the interest-free period. This is only for the occasional expenses which I try to limit to twice a month (clubs, dinner, movies, etc). Might not be ideal, but it has a good rewards system – I manage to buy at least one item worth around €50 for free every year.
***
7.30 am: I woke up not feeling very good, so I take the day off and go back to bed. Not a good way to start the week, I know. But health comes first.
10.00 am: I wake up for the second time only to realise we are out of milk and groceries. I am lucky to have Aldi just across the street. I buy milk and frozen pizza which I will improve with some leftover veggies I have at home. (€4.68)
11.00 am: I stayed in rewatching The Big Bang Theory for about three hours along with a hot cup of coffee and pizza.
2.00 pm: I go back to bed for a nap which I only later realise was probably a bad idea.
5.00 pm: I wake up and decide to plan for the month ahead as today was payday and I have lined up all my expenses and auto-debits to come just after payday. I send home €1523.06 (monthly expenses for my parents, loans, credit card due €83.31 for last month’s outings with friends, savings).
6.00 pm: I then decide to catch up on some work as I have a lot going on (I might from time-to-time generalise the work I do, sorry about all the secrecy. All I can say is I am into cyber security).
8.00 pm: I start cooking for dinner and lunch the next day – chicken and rice it is! I continue binge-watching The Big Bang Theory.
10.00 pm: I have dinner and then decide to look up a trip that myself and the lads are planning for August. I realise I need to keep aside €80 for the Visa. I am not going to include it as an expense as I have spare change lying around that I’ll use.
Today’s total: €1,527.74
8.00 am: I wake up feeling better than yesterday, thank God. I usually head into the office on Tuesdays but am going to work from home today. I get ready for work and make myself a big cup of coffee. I also manage to squeeze in a quick video call with my parents back home.
9.00 am: I check on today’s meetings again and some tasks I have been working on for the last few weeks. I attend the daily team meeting. Chat about work, etc and find out one of my colleagues is going to be out of office this week and because our work is related and sometimes co-dependent, I will be looking after more things than usual.
10.15 am: I conduct a training session, which is usually on Mondays but because of my sick leave, it got postponed. I do it from time to time at work with a different audience every time.
11.00 am: I attend an important stand-up call to give an update. So far so good as things are looking positive on the project. I then amend my work priorities for the week to cover for the sudden change and catch up on other routine tasks.
12.30 pm: I take my lunch break a little early as I have another meeting just around lunchtime. Chicken rice from the day before, get in my belly.
1.30 pm: Another meeting. It ends quickly though, which gives me some time to work on other things and plan out next week as well – I like to be as prepared as I can be.
5.30 pm: I finish work. I have two more small catch-ups to do this afternoon and work to finish off a high priority task which was due.
6.00 pm: I call home (my mum would freak out if I didn’t call at least twice a day). I decide to just heat up that frozen pizza for dinner as I am exhausted.
8.00 pm: I have dinner and watch a new Bollywood movie with my flatmate.
11.00 pm: Time for bed.
Today’s total: €0.00
7.30 am: I wake up, get ready for work (from home), make an omelette and coffee. I try to buy in bulk for things I would often use. That’s my way of blocking money out so I have none left to splurge. Also, I call home again this morning.
9.30 am: I attend the daily team stand-up call and discuss priorities. Today is fairly quiet as I have only one other meeting. I focus on closing off another important task before time as I have a feeling things are going to be busy this week.
1.00 pm: I take my lunch break and eat another pizza. Thanks, Aldi, for the cheap three-pack pizzas. Squeeze in two episodes of Kim’s Convenience – great show, watch it if you haven’t already.
2.00 pm: Back to work and then a meeting towards the end of the workday.
5.30 pm: I call home, then I have a group call with my buds, one back home and two in the US. You can imagine the pain we go through to have an overlapping time since all of us are in different timezones. That goes on for a long time as we don’t often get to talk with the busy schedules and haven’t met in the last two years because of Covid.
8.00 pm: I cook for dinner and lunch the next day. I cooked an Indian-style one-pot dish with rice and veggies and an omelette on the side. I start a movie while cooking so I can finish it just in time for bed.
9.00 pm: I have dinner, scroll through the usual apps while watching the movie (Jumanji: The Next Level). It’s old, but I could live without paying 100% attention to the movie so Jumanji it is.
11.00 pm: I order a bartending kit from Amazon for €35.89. I have always wanted one as I like to make my own drinks. I love a good Old Fashioned. After that, it’s time for bed.
Today’s total: €35.89
8.00 am: Time to wake up. Since I mostly work from home, I have become quite lazy at waking up early. Got ready for work, don’t do breakfast. Manage to call home before I start work.
9.00 am: Work was very chill today. By that I mean, no surprises today or last-minute tasks to do.
1.00 pm: Lunchtime! I have the leftover food from last night while scrolling through Instagram and then watch Last Week Tonight on YouTube – one of the old episodes actually, they have 25-minute segments on YouTube which I think are perfect for lunch time.
2.00 pm: No meetings. I focus on my usual tasks while soaking in some sunlight on my balcony. I am grateful I found this place – it’s south-facing and just perfect to enjoy the view on a good day.
5.30 pm: I finish work. Call home again. (It’s as if I need to provide a status update to my folks every day!)
6.30 pm: I realise I don’t have much to cook with, so I head down to Aldi to get some chicken for €3.50. I cook a chicken curry and some rice for both dinner and lunch the following day. Netflix on the side as usual.
8.30 pm: Dinner time. Have a quick call with my friends here in Dublin to plan out the weekend. We decide to have a small house party on Friday (more like dinner and some drinks) and then go out to Hideout in Dublin to play pool.
11.00 pm: Bedtime.
Today’s total: €3.50
8.00 am: Wake up late again so I skip breakfast. Mom calls me as I forgot to call her. Have a quick chat and get ready for work.
9.00 am: I get to know of an issue that I had to urgently write a report on and realised there was another pending task due for early next week, so I plan my day accordingly.
9.30 am: Team meeting.
10.00 am: Quick break for a cup of coffee (I almost never buy coffee to save on those extra few bucks that usually add up) and banana to make up for my missed breakfast. Then I get back to work.
1.00 pm: I have the chicken curry and rice from last night while watching another video on YouTube. Also had a quick call with my friends to check if we were still on for today.
5.30 pm: I finish work, especially those two important tasks for the day that I planned for in the morning. I also have a five minute call with my parents. Kept it short as I had to prepare for dinner with my friends.
6.30 pm: Back from the store with groceries, stuff for dinner included. (€17.74, the bill to be split with my flatmate as we all hang out together, so my share is €8.87). In case you’re wondering, I am making butter chicken for everyone and got some munchies as well. One of my friends is getting the drinks so that’s covered.
7.30 pm: Dinner’s ready and everyone arrives just in time. One of the guys just moved to Letterkenny so it was nice to meet him as well since he has come here for the long weekend. We play some games, have dinner, drinks, the usual stuff.
1.30 am: Bedtime, but I decide to stay late and binge-watch Jurassic Park, skipping to the important parts only as I had watched it before and just want a refresher (I can be a nerd sometimes). This is all so I can watch the new movie coming out in June. Glad that I have bought some popcorn just this evening.
Today’s total: €8.87
12.00 pm: Wake up late as expected. I have leftover food from last night and watch another Jurassic Park movie as I can’t get through them all at night.
3.30 pm: Called home (the usual chats). Get ready to head out to play some pool. We reserve the table for two hours. Although, I must say I had half a mind to cancel as it is raining and I am sleepy because of my late-night shenanigans. I take the bus both ways. (€4.30)
7.30 pm: I get a takeaway from Boojum for the night and lunch the day after. (€15.65)
8.30 pm: I reach home and dig into the takeaway while watching another Jurassic Park movie. (so predictable, right?)
12.00 am: Bedtime.
Today’s total: €19.95
9.00 am: I wake up. Make some tea and have it with some biscuits.
10.00 am: Call home, watch more movies (not Jurassic Park this time), plan my finances (I like to see where I am, weekly). I also take a nap – the weather wasn’t great so no point in going out, even though the Phoenix Park is somewhat close by.
5.00 pm: I head to Aldi to buy some more groceries for the week and more chicken for dinner and lunch the next day. (€19.32)
6.00 pm: I cook dinner and lunch while watching The Big Bang Theory again. Call my friends as well to talk about next weekend’s plans as one of the guys is travelling back from India.
8.30 pm: I watch the movie Nobody (great one) while having dinner.
11.00 pm: Scroll through Instagram. Watch videos on YouTube – stay up late as it’s the long weekend.
1.00 am: Bedtime.
Today’s total: €19.32
***
What I learned –
While family carers are means tested for carers allowance.
@Úna O Connor Barrett: you can say that again
@Úna O Connor Barrett: The funds are there Una, they just do not care… Let them know in the next election..
@Úna O Connor Barrett: think rich people should be subsidised by poorer taxpayers? That’s reason for a means test.
By all means question the threshold but if you are saying a millionaire should automatically qualify then I disagree.
The war is confined to a small part of the country now. You would imagine many of those that came here would be able to return.
@Munster1: Emphasis on for now. Things can change drastically not to mention many of these Ukrainians have not just lost their homes and family members, but their entire towns and cities too.
@Munster1: I think you can thank your lucky stars that you live in Ireland. What a dreadful comment. You have no idea of the horrors nor of the current and future situation of the country . Ukraine is a war zone, all of it currently. Perhaps you should devote some of your free time to helping the Irish disadvantaged and or the Ukrainian refugees. And yes, many of them want nothing more than to return to their homeland
@Dave Phelan: have you been there, have you witnessed first hand these so called atrocities, no, you sit at home in front of your PC and type idiotic statements. find some real information from real people, on the front line, and watch ho most of the cities are in fact, as everyday normal. what has happened to the people of ireland, now we just watch as our leader propose to be the “good boys ” of europe, while they neglect the needs of everyone in this country, unless you are rich of course and there is something in it for them.
@Darren Murphy: They were voted in because they were well able to ignore the needs of others. That happened long beforehand and it’s on us.
While family carers are means tested for carers allowance and have to fight for medical cards
@Úna O Connor Barrett: Absolutely true Una
In the first instance for many people reading this the initial gut response will probably be…
What about the homeless in Ireland? And why isnt the government funding support for them?
To put this in context the total of Public Expenditure on Homeless Service Provision in the Dublin Region in 2021 was €148,142,145 million.
So its not a case of help being made available for Ukrainian refugees, that has not been available to homeless people in Ireland or that this will somehow take funding away from currently homeless people, its two separate issues and both are being addressed.
The reason for continuing homelessness in ireland is not a lack of funding, its a lack of successive governments willingness, to build permanent social housing to replace current temporary accommodation.
@David Van-Standen: stop talking sense… It’s not appreciated on the journal..
@David Van-Standen: What I can’t fathom is why on earth any TD can’t simply make the call and build permanent housing with EU help. They could then be used later for social housing. All these subsidies are going to hotels while tourists can’t get to or from the airport.
@Aileen Lawlor: They will house whoever is next on the list freeing up emergency shelter for the next people.
Hotels cancelling reservations left, right, and centre because they’re getting 4 grand a week per room off the government to house Ukrainians. Twice in 2 weeks it’s happened at last notice to me, and then you’re paying through the teeth for another hotel.
@Ciarán O’ Donoghue: 4 grand a week, €570 a night…. per room. Whichnof your arses did you pull that figure out of?
@Ciarán O’ Donoghue: 100%. If a hotel has a stragety getting rack rates from the government it has to show 1st that they exist. The vast majority of hotels would love to go down this route hense medium hotels charging 350/400 per night when they were 140 average. They cant get staff so managing 50 rooms at 400 is better than 100 rooms at 140. And again no words from the IHF & Bord Failte. Very very quite.
What’s the Government’s fixation with the City West Hotel, first of all they block booked it as a Covid 19 Base, and now they are going to do the same for the Refugees. Who owns this place, and was these transactions done through Open Procurement, or could there be some Brown Envelopes involved.
@Owen G Mc Ginley: a quick Linkedin search shows the Chairman of Tetrarch who own the Citywest to be Paul Donnolly who is currently also a Senior Advisor to Digicel and was previously a non-exec board member of Digicel… never too far from Denis O’Brien in this country.
@Owen G Mc Ginley: It’s the largest hotel in Ireland, nearly 800 rooms, 2 convention centres and a leisure centre. That’s not including the golf hotel
@Owen G Mc Ginley: not whitstanding the other points made above its also extremely accessible from a transport point of view being only minutes from the M50/N7. No matter what the Govt do you can be guaranteed someone is making a tidy wedge from it.
@Owen G Mc Ginley: , down to all the political contacts made by Jim Mansfield over the years, starting with Liam Lawor, there still there
Current Government remind me of the FF/Green Government towards the end of 2020, a total shambles. Minsters have no control of their departments and the recent fiasco in Dublin Airport, to name one of many, proves this point. A General Election is badly needed as soon as possible.
While family carers are means tested for carers allowance and have to fight for medical cards.
@Úna O Connor Barrett: Yawn
And yet 10 000 irish residents are homeless. I completely agree with helping Ukraine, but look after people who reside in the country first. You cant bring in people into the country in order to inflate this figure next year. 10 000 homeless people, 10 000!!!
Money is the currency of power for this government. They love to have large scale expenditures that they use to curry favour for individual party members or for the party themselves. No money going out equals no votes, favours and LBE’s coming back in. They also don’t care, as can be plainly seen here for years and years, on whether they get value for that money spent, that is besides the point. Or to put it simply, CORRUPTION – alive and well for 50+ years and we just watch it slowly destroy the place.
While family carers are means tested for carers allowance and have to fight for medical cards
@Úna O Connor Barrett: One more time.. that will be 5.
Which government minister, TD or senior civil servant owns, part owns or has a financial interest in the Citywest…..in other words who’s pockets are they lining now
They think the war will Last Two years …???? As soon as things are right in Ukraine They should go back…and let the government sort out the homeless problem for a change
Move refugees out of Greater Dublin Area as use the rest of the country that has excess capacity.
Wow bought just before Covid for peanuts, two handy contracts from state that covers that cost more than once. Lucky deal or just lucky
So what happens if there is another scandemic and they need the hotel again for covid ?
@Ken Bramley: Dafuq is a scandemic? Braindead comment!
It’s a disgrace we need to deal with irelands own homeless I can wait till the next genral election fffg are f##ked
A good decision
Considering? This has been known the last 3 months, not Considering, done.
For god sake people of ireland stand up 10000 on the street family’s struggling children going hungry and the government look the other way I’m all for helping any one who needs help these people have been trough hell but many irish have been in hell for a long time bring on the election
Will they get free use of the golf course ?
Is the darts cancelled so?
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